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Business, 27.12.2019 00:31 myla18jabbar

When demand is inelastic:

price elasticity of demand is greater than 1.
consumers are not very responsive to changes in price.
the percentage change in quantity demanded resulting from a price change is greater than the percentage change in price.
demand curves appear to be fairly flat.

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When demand is inelastic:

price elasticity of demand is greater than 1.
consumers...
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